Skin Elements to purchase McArthur Skincare

Skin Elements has signed an agreement to purchase Australian therapeutic and cosmetic products manufacturer McArthur Skincare.

McArthur Skincare's director Gregory Kay said: “This acquisition will result in a complementary and extensive range of cosmetic and therapeutic skin and haircare products containing natural ingredients.

“McArthur Skincare believes this will result in substantial growth across various sales channels both in the Australian and international markets."

Upon completion of the acquisition, Skin Elements will increase its size and scale, as well as expand its product range of 29 offerings across the therapeutic skincare, suncare, and cosmetic skin and beauty care categories.

The firm plans to immediately support McArthur Skincare products' sales and prepare for the first commercial-scale production run of its Soléo Organics sunscreen. Skin Elements intends to use McArthur Skincare’s established sales channels to boost its Soleo branded products. The company will also work towards opening new sales and distribution channels for the consolidated product range.

The $1m acquisition is expected to be complementary to Skin Elements as both the companies seek to provide healthy products with natural ingredients.

Skin Elements also plans to add brand extensions to Soleo sunscreen. The firm's expanded product development team will further work on development of new skincare products.

The transaction is subject to completion of due diligence to Skin Elements' satisfaction by 27 April.